Hello,
I have been looking at Canadian properties as a way to start my cash flow positive career. I have found a great site on the net. I have found many properties which seem to fit the bill. I put the figures that I have in the ‘Cash flow positive calculator’, which is located at http://www.jaffasoft.com/, and is absolutly fantastic. I use the stock standard numbers that are already in the calculator for things such as maintainence, managment fees, legal costs and borrowing costs etc.I am unsure though how to go about finding out other costs the owner of the property would have to pay, eg Hydro, gas etc. One proerty I am very interested in I asked the agent to send me the numbers for all the annual costs specified in the calculator fields. Is this what people who have bought OS properties suggest. Basically, how do I get all the figures I need to see if this will be a good deal or not?
On this site there are many agents with alot of properties that say things ‘Good rental return’ in the description, but don’t actually list the rents. Can I e-mail them and say, “Can I have all income and outgoings for this property please?”, or is this rude and not done. Some of the properties really sound great but i am worried I am missing a hidden catch by not asking the right questions.
One more question. How do I go about letting agents know what I am after in a property, ie do I just say, ‘Looking for cash flow positive property up to blah blah purchase price, please send figures on any properties you believe may be suitable’? Or is this something that isn’t done either? Not sure what is the best approach.
How do you conquer the thought, ‘If It’s such a good deal, why didn’t someone else get it already?’
Thank you all so much for any insight or advice.
Merry whatever you celebrate.
JRW
Hey there,
Just a suggestion:
Sometimes it is better to crawl before you walk. Once you have learnt and tested your investing system then you can reproduce your machine in other countries. I would need to go accross the ditch to source all of the relevant information and market research prior to parting with hard earnt cash.This way you can build contacts directly with agents and also source your own properties that may not be advertised through the normal agency channels.
Best of luck
Kiwi
[baaa]Thnaks Kiwi-fulla. Sorry reply has is now old, just back onto the computer after net crashed. I still think i’ll try Canada as deals seem so good there, and i need to try somehting. Will let all know of progress.
The ‘Cash Flow Positive Calculator’ does NOT allow for currency exchange risk. You may find that you could be buying a negative property especially if our dollar increases or the Canadian decreases.
Good luck!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdThanks Robert. I will be borrowing most of the money from Canada (65%) but I understand that currency exchange rates will add another unknown into the equation. Still something I will pursue unless I get some good reason not too.
John.Do you have a solicitor, agent etc over there?
Canada is a big place. ARe you buying up in one area or you buying all over the place.
My attitude to that is go for it. Why wait. Learning is about doing. Just educate enough not to get burnt too badly.
Goodluck
Byronent
Adelaide SAI don’t have much there yet. Have been talking to mortgage brokers and agents. Looking mostly at BC at this stage. Will give it a go and see what happens. Thanks.
Hi John, just curious as to the response you received from the email you sent about the below……
**One proerty I am very interested in I asked the agent to send me the numbers for all the annual costs specified in the calculator fields.***
**also does anyone have an opinion on the below question??
Can I e-mail them and say, “Can I have all income and outgoings for this property please?”, or is this rude and not done.
I am new to property investing and just learning as much as possible – this is a question i would be intersted in the response to (the basic things at this stage)!!!!
Brad
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